Royal Mail’s parcels revenue has overtaken letters for the first time and now represents 60% of its entire turnover, according to the postal group. Turnover rose in the first half of its financial year to 27 September by almost 10% to £5.7bn. However, even the 31% increase in parcels volume did not prevent a 90% drop in its pre-tax profits to £17m. It said that during the period it had seen “a staggering reduction” in the amount of letters it […]
Analysts have reacted cautiously to Royal Mail’s year end results, which saw the group’s turnover grow 2% year-on-year but annual profit fall by more than a third (37%).
Bulk haulage firm Fred Sherwood & Sons saw its pre-tax profit tumble by three quarters to £644,000 last year as the firm battled declining asset resale values, rising fuel prices and pay rate pressures.
Controlled temperature specialist Nagel Langdons increased turnover by almost 15% to £85m in the year ending 31 December 2013.